Mapna Won't Cede Power Plants

Mapna Won't Cede Power Plants
Mapna Won't Cede Power Plants

During the previous administration, Mapna Group acquired power plants, with a total generation capacity of 2,000 megawatts (MW), in lieu of the energy ministry's debts to the company, its managing director said.

"Mapna has acquired several power plants and it has no intention of returning them," Abbas Aliabadi was quoted by Fars news agency as saying.

Since the new government took office in August 2013, energy minister, Hamid Chitchian, has repeatedly asked Mapna to hand over the power plants it acquired in exchange for its outstanding dues.

"As long as the National Development Fund of Iran grants loans for construction of power plants, is there anyone willing to do this on their own?" Aliabadi asked, adding: "So, since Mapna has built the power plants using its own resources, it is not going to give them away unless it receives the cash equivalent for them."

Mapna is currently in possession of nine power plants. "There is no such private firm that can afford buying those power plants," Aliabadi said. "Any other company would definitely offer to purchase them on credit."

 Mapna Group (Iran Power Plant Projects Management Company) is an Iranian enterprise that operates in  construction and development of thermal power plants under EPC (engineering, procurement and construction) scheme, independent power plants (IPP), oil and gas as well as rail traction projects.

Since its incorporation in 1993, Mapna has contributed to the engineering, manufacturing of equipment and construction of power plants to generate a total of 52,000 MW of electricity, thereby constituting 86% of Iran’s installed power plant capacity.

The total contractual value of Mapna Group’s projects in three spheres i.e. power, oil and gas and rail traction exceeds 17 billion euros.